BoSI has sold its mortgages to Tanager Ltd, a vulture fund

Probably best to complete this to get a full answer:

Standard Format for mortgage arrears Case Studies

I think you should write to them telling them that you are planning to apply for a PIA or bankruptcy and so will be withholding payments to save up enough money to pay the fees of the PIP or Insolvency Service. You should mention that you are open to a voluntary sale subject to an agreement being reached on the shortfall.
 
Hi there, I'm new to this site so please bear with me... we are with BOS and have recieved the Tanager letter... our house is worth the same approx as we owe on it and I am on disability and my husband has just been made unemployed for the second time in the last two yearrs. we are sick with worry and dont know what to do. we were with mabs but they have not been dealing with BOS for us as we were dealing with them quite successfully ourselves up un til now. we were on interest only on and off and are approx 8000 in arrears. we are now been advised that we will need to pay the full amount plus extra from april on.. thats over 1300 and our weekly income is 480. with 2 kids.. any advise we have no one else to turn to and nothing of value to sell. thanks.
 
Hi there- Has anyone who has received a letter in December from Tanager received anything further or know how I can contact them. I could get no information from Certus.
Thanks
 
Have heard nothing since receiving letter from Bos in December regarding Tanager, however Bos have still gone ahead with repossession and we have received our final bill of possession.
 
Received a letter today saying that Tanager will be taking over the mortgage as of the 15th April and we will be contacted by them shortly.
 
HI there, we also received letter from Tanager ysterday and are shocked and depressed as this is our family home and not buy to rent property. We have €3000 - €4000 in arrears and were on the payment arrangement with BOSI for last 2-3 years. Our mortgage is €310K and house value is around €120K. We were planning to make full monthly repayments from September 2014 when our youngest starts primary school and there will be no killer childcare costs anymore.
Brendan can you please advise what are the options for us?
what happens if we make the stretch and clear the arreas? Will they go away or will they still be looking to get us out of the house and then sell it? Is it possible to buy the house off Tanager at lower price and what happens with the existing mortgage?
Do we need a lawyer to help us?
Is there any consumer association we could go to and get help?
Sorry about so many questions but this is all new to us and we are not experts in the matter. My wife is worried sick and we would like to get this sorted as quick as possbile.
Should we form some sort of a action/group and act together? What do you think folks?
Mayn thanks.
 
MK76 said:
HI there, we also received letter from Tanager ysterday and are shocked and depressed as this is our family home and not buy to rent property. We have €3000 - €4000 in arrears and were on the payment arrangement with BOSI for last 2-3 years. Our mortgage is €310K and house value is around €120K. We were planning to make full monthly repayments from September 2014 when our youngest starts primary school and there will be no killer childcare costs anymore.
Brendan can you please advise what are the options for us?
what happens if we make the stretch and clear the arreas? Will they go away or will they still be looking to get us out of the house and then sell it? Is it possible to buy the house off Tanager at lower price and what happens with the existing mortgage?
Do we need a lawyer to help us?
Is there any consumer association we could go to and get help?
Sorry about so many questions but this is all new to us and we are not experts in the matter. My wife is worried sick and we would like to get this sorted as quick as possbile.
Should we form some sort of a action/group and act together? What do you think folks?
Mayn thanks.
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What did the letter say? Are they trying to rip up the payment arrangement you had with BOSI? I would be surprised if they were. Don't be worrying about repossession. That's not going to happen given the circumstances you outlined.
 
Sunny said:
What did the letter say? Are they trying to rip up the payment arrangement you had with BOSI? I would be surprised if they were. Don't be worrying about repossession. That's not going to happen given the circumstances you outlined.
Click to expand...

Hi Sunny,

it is just general letter saying that our mortgage is now with Tanager and they will conatct us due course.Nothing about the arrangement.
You said in the earlier post that they will be looking for quick ROI especially on properties in distress. Why do you think they are not interested in the repossession? What possible would they be looking for from us? I wonder what the value of our mortgage is at the moment if they bought if from BOSI for 40% percent.

Thanks.
 
HML Ireland has won the contract for the bank of Scotland mortgages sold to tanager.
Link here to the Irish times.
irishtimes.com/business/sectors/financial-services/hml-to-manage-750m-in-home-loans-1.1752150
 
Hi Santa,

could I get a copy of the letter you received from BOSI re: the Tanager sell off. I have a mortgage with them which is in arrears and I'm worried about this. Please email to johndoyle101@gmail.com
 
Recieved my welcome letter from tanager this morning they have quoted tat they r noting to do with them central banking but they will co operate with the code of conduct with mortgages so we shall see interesting times ahead
 
Also mortgage sold to Tanager. I immediately made contact to 'open dialogue'. We are paying €1,260 of a €1,800 mortgage on a house back in positive equity since re negotiated last June, ideally need to keep this arrangement in place for next 12 months, 6 minimum. I have spoken with 2 Tanager representatives and both were so helpful and open to talk. Now the devil is in the detail and we are resubmitting our case this month to see if they'll maintain our current arrangement, I have gone back to work and therefore increased our income by 45k annually, we have 20k arrears that we are hoping to recapitalise . I'll let you know the outcome, so far couldn't say they haven't been anything but positive to deal with.
 
Has anyone been able to contact Tanager Limited? Certus gave me a contact number but it is not connecting.
 
Mortgage Protection Policy on Tanager Loan

I have a home loan which has recently been sold to Tanager. I have a mortgage protection policy on this loan costing a considerable amount each month. The Policy has Bank of Scotland's interest noted.
The cost of the Policy is crippling each month and it is probably covering twice the amount that Tanager paid for the loan.
Am I still required to have this policy ? Tanager checked about Property Insurance but not Mortgage Protection .
I'm not sure where to start and how best to proceed .I don't want to be rash but could do with less costs each month .
 
Hi Asu

You raise a very interesting point.

Some people took out gold plated mortgage protection policies. Level amount and the option to increase the sum assured. Some took out the policies through the lender and did not shop around.

1) You should shop around to see if you can get a decreasing balance mortgage protection policy for a lot less.

2) If you have no dependents, mortgage protection is a waste of time. I suspect that if you cancel it, Tanager will not take any action. But if the cover is cheap, then don't cancel it.

3) If you have dependents you need to make a decision on it. Do you still want to pay it?

(I fell a Key Post coming on...)
 
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